New report: Detroit Institute of Arts pieces worth more than $4.6 billion

Gov. Rick Snyder speaks in front of part of Diego Rivera's Detroit Industry mural at the Detroit Institute of Arts in Detroit, Monday, June 9, 2014. General Motors, Ford and Chrysler are driving into Detroit's bankruptcy reorganization by pledging $26 million to help support retiree pensions while keeping the city's art treasures off the auction block, officials announced Monday. The money will go to city pensions as part of its $100 million commitment to what's being called a "grand bargain" to resolve the largest public bankruptcy in U.S. history. (AP Photo/Paul Sancya)

DETROIT (AP) >> An art market advisory company says treasures in Detroitís art museum eyed for sale by some creditors in the cityís bankruptcy could be worth $4.6 billion, but likely would fetch much less at auction.

Artvest Partners LLC also says a forced liquidation of 60,377 pieces in the Detroit Institute of Arts could bring in closer to $1.1 billion.

The report was commissioned by the city and the museum as ammunition against some creditors in Detroitís upcoming bankruptcy trial. It also is broader than an earlier appraisal that placed the value of 2,800 city-owned pieces at between $454 million and $867 million.